Signs You Need a New Property Management Company

Your property manager is supposed to help manage your properties and keep them profitable. Anything less than properly achieving those goals is doing you and your tenants a disservice. At the same time, your profits margins can suffer, which is something no investor wants to see. If you notice any of these signs, it may be time to look for a more capable property management company to take care of your investments:

Your property manager alienates tenants

In this line of business, relationships are everything. This is why a property manager who alienates your tenants should be a concern that you address quickly. The last thing you want is to acquire a poor reputation because of your property manager’s actions.

Your property manager is too lenient with violations

When you enter a contract with a tenant, you expect your tenant to hold his or her end of the agreement. When they violate the terms of your agreement, you want a property manager who is just and fair to rectify the situation. A manager who is too lenient with violations puts your property at risk, affecting your property’s ability to generate income in the future.

Your properties aren’t being rented out

No tenants mean no income, which completely contradicts the whole reason you’re in this venture in the first place. Several properties remaining empty for excessive amounts of time is a red flag, especially if your properties are well-maintained and have had no previous issues when it comes to finding tenants.

Things to do before renting out Your House

So you’ve decided to capitalize on your big, spacious house by renting it out. Before you go out in search of your first tenants, though, it’s important to get it prepared for leasing first. Think of yourself as a home seller trying to prep his home for an open house. What would you do to make sure that your buyer (tenant, in your case) gets to sign on the dotted lines?

Check for Damage

You should first check the overall condition of your house. Are the roofs leaking? Is the drywall sticking out of damaged walls in some places? Make sure that your property looks as pristine as you could make it. Your tenants just might emulate how well you keep your property, so if you don’t appear too conscious about cleanliness, they might let go as well and not care about maintaining the property.

Inspect the Plumbing

Plumbing problems can turn away a lot of your prospective tenants, so make sure that there’s nothing leaking or flat-out busted in your system. Moreover, ensure that the fixtures are all in good working order, especially the toilet.

Touch up Paint

Consider repainting the ceiling and walls, as well as any part of your home (interior and exterior) that might give your prospective tenants second thoughts about staying there. If you’re using wallpaper, consider setting up a fresh batch to make your home look fresher and cleaner.